Date : 11 July 2014

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS MALAYSIAN RESOURCES CORPORATION BERHAD (“MRCB” OR THE “COMPANY”) (I) PROPOSED DISPOSAL; AND (II) PROPOSED SHARES ACQUISITIONS (COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

MALAYSIAN RESOURCES CORPORATION BERHAD

TypeAnnouncement
SubjectTRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
DescriptionMALAYSIAN RESOURCES CORPORATION BERHAD (“MRCB” OR THE “COMPANY”)

(I) PROPOSED DISPOSAL; AND

(II) PROPOSED SHARES ACQUISITIONS

(COLLECTIVELY REFERRED TO AS THE “PROPOSALS”)

(Unless otherwise stated, all abbreviations used herein shall have the same meanings as those mentioned in the announcement dated 10 April 2014.) 

We refer to the announcements dated 29 January 2014, 4 April 2014, 10 April 2014, 15 April 2014 and 9 June 2014 in respect of the Proposals.

On behalf of the Board, CIMB and RHB wish to announce that the SC has, via its letter dated 10 July 2014, declined the proposed ruling that MRCB, MSP, Quill Land Sdn Bhd, Quill Properties Sdn Bhd, Quill Estates Sdn Bhd and QRHSB are not regarded as persons acting in concert in relation to QCT pursuant to the Proposals (“PAC Group”).

As the PAC Group is expected to hold more than 33% of the enlarged outstanding units of QCT upon completion of the Proposed Disposal, a mandatory offer obligation under the Malaysian Code on Take-Overs and Mergers 2010 (“Code”) would be triggered.

In light of the above, an exemption will be sought under the Code from the obligation to carry out the mandatory offer.

This announcement is dated 11 July 2014.

 

 

 

 

 



Announcement Info

Company NameMALAYSIAN RESOURCES CORPORATION BERHAD  
Stock Name MRCB    
Date Announced11 Jul 2014  
CategoryGeneral Announcement
Reference NoMM-140711-38595